Bank Boston Has a Branch at Bryant College

question 103

Essay

Bank Boston has a branch at Bryant College.The branch is busiest at the beginning of the college year when freshmen and transfer students open accounts.This year, freshmen arrived at the office at a rate of 40 per day (8-hour day).On average, it takes the Bank Boston staff person about ten minutes to process each account application.The bank is considering having one or two tellers.Each teller is paid $12 per hour and the cost of waiting in line is assumed to be $8 per hour.
(a)What is the total daily waiting cost for the single teller model?
(b)What is the total daily waiting cost for the two-teller model?
(c)What is the total daily service cost for the single teller model?
(d)What is the total daily service cost for the two-teller model?
(e)Which model is preferred?

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